USD/CAD Wave analysis and forecast for 27.06 – 04.07: Correction has completed. The pair is likely to grow.
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Estimated pivot point is at the level of 1.0750.
Our opinion: Buy the pair above the level of 1.0750 with the target of 1.09 – 1.10.
Alternative scenario: The pair will continue to decline to the levels of 1.06 – 1.05.
Analysis: Presumably, the formation of the downward correction in the fourth wave с of 4 is nearing completion. Locally, downward momentum in the wave с of 4 is nearing completion. If this assumption is correct, in the near future the pair may reverse and start to grow in the fifth wave of the senior level.
